Ifo Architects Survey: Order stocks remain high

According to the results of the quarterly survey of freelance architects by the Ifo Institute, the business climate at the beginning of the third quarter of 2011 brightened somewhat and remains at a favourable level. The surveyed architects again assessed their current business situation as more favourable, but their business expectations are a little more sceptical than a quarter of a year ago. In the second quarter of 2011, 55 percent of the freelance architects completed new contracts. The average level of order stocks increased. At 6.1 months, the backlog of orders at the end of June 2011 is more than half a month higher than three years ago and about 75 percent larger than eight years ago.